Insolvencies rise in 5 provinces

The number of individuals declared insolvent nationally declined in May but the rosier picture was largely driven by an 11 per cent drop in one province.

Quebec saw 180 insolvencies, including bankruptcies and consumer proposals in May, down from 202 in April; Ontario’s figure dropped from 98 to 92; Saskatchewan from 11 to 10; PEI from 4 to 2; and Nunavut from 1 to zero.

There were increases though in 5 provinces, led by BC which saw an increase from 12 in April to 18 in May. Alberta increased to 10 from 6 in April; Newfoundland & Labrador doubled to 4; New Brunswick increased from 5 to 7; and Manitoba increased from 6 to 7.

There were no changes in Nova Scotia (8), Northwest Territories (0) and Yukon (0).

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